DEEPAK NITRITE LTD

Manufactures specialty chemicals through two reporting segments. Phenolics — 67.9% of FY26 segment revenue at ₹5,400.68 crore — covers phenol, acetone and related derivatives, and the company is building a 165,000 MT/yr polycarbonate plant targeted for June 2028 commissioning alongside phenol expansion. Advanced Intermediates — 32.1% at ₹2,553.32 crore — spans nitration, hydrogenation, agrochemical intermediates, MIBK/MIBC and fluorinated specialty molecules; MIBK/MIBC is due for commissioning in Q1/Q2 FY27 and 6-7 new specialty products are slated for regularized commercial production from Q3 FY27. Wholly owned subsidiary Deepak Chem Tech operates Fluorination, Nitric Acid, Nitration and Hydrogenation plants in Gujarat, with FY26 turnover of ₹172.23 crore; the nitration and hydrogenation facilities at Dahej were ramped up during FY26 and a Praxair India HyCO agreement covers on-site gases. Customers sit in pharmaceutical, agrochemical, automotive, infrastructure and polymers end-markets, with an 86:14 domestic-to-export revenue mix in Q4 FY26. Raw materials are the dominant cost at 67.5% of revenue, against an FY26 EBITDA margin of 13.03%; capex runs at 15% of revenue, with total project spend guided at ₹11,000 crore for the polycarbonate and other expansions, funded 60:40 debt-equity.